Central Resources Reports Final 2010 Geochemical Results and Stakes Additional Ground at Selwyn Creek Project, White Gold Distri
08 Febbraio 2011 - 3:00PM
Marketwired
Central Resources Corp. (TSX VENTURE: CBC) ("Central" or the
"Company") is pleased to report final results from its 2010
sampling program on the J and K claim blocks of the Company's
Selwyn Creek Gold project, located in the Dawson Range area of the
White Gold district, Yukon. As a result of the highly encouraging
results to date, the Company has consolidated the J, K and L blocks
into a contiguous package by staking an additional 215 claims. The
consolidated L block now comprises 755 claims totaling 15,790
hectares.
"We are very pleased that our first year exploration program
outlined several areas of anomalous gold, arsenic and/or base
metals on the various claim blocks," said Paul Reynolds, Central's
President and CEO. "From a broad, kilometre scale, +20ppb gold in
soil anomaly on the L Block, to 5 and 6 g/t gold assays from grab
samples of quartz vein material on the O Block (and numerous single
point anomalies on other claim blocks in between), we have
demonstrated great potential to find significant mineralization on
the Selwyn Creek project with continued work."
Recent soil sampling on the now consolidated J and K blocks was
preliminary, consisting of 84 and 214 samples respectively, on a
combination of wide spaced (200-800m) contour lines and a coarse
(100m by 100m) grid. Results of current and historic work included
peak values of 76, 96 and 209 ppb gold, along a two kilometre long
inferred structural trend on the J Block, and a single historic
peak value of 219 ppb gold on the K block, which remains to be
explained. Of the 298 samples collected in 2010, 16 ran greater
than 10 ppb, 7 ran better than 20 ppb, and 3 exceeded 50 ppb.
Complete geochemical results from the L block were previously
reported October 13 and October 22, 2010.
The Company is strongly encouraged by these early results and,
having now consolidated a strategic land position, is planning to
conduct a comprehensive follow up program of more detailed
prospecting, soil sampling and trenching on the properties in 2011,
to better define the existing anomalies and identify potential
drill targets for subsequent testing.
Background
The Selwyn Creek Gold project now consists of four separate
claim blocks (L, M, N, O) located in the Dawson Range area of
Yukon. The properties were staked on the basis of historic sampling
conducted by Archer Cathro & Associates (1981) Limited. Central
has the right to earn a 100% interest in the properties from
Strategic Metals Ltd., by making payments of $300,000 cash and
3,000,000 shares by February 15, 2012.
Recent soil and rock sample analyses were conducted at ALS
Chemex in North Vancouver, BC. Samples were analyzed for gold by
fire assay and inductively coupled plasma-atomic emission
spectroscopy (Au-ICP21) and for 35 other elements by inductively
coupled plasma-atomic emission spectroscopy (ME-ICP41).
Field work was supervised by Heather Smith, P.Geo., of Archer
Cathro, a Qualified Person under the definition of National
Instrument 43-101. Ms. Smith is responsible for all aspects of the
work including the quality control/quality assurance program, which
includes the use of international and in-house standards. Peter
Thiersch, M.Sc., P.Geo., the Qualified Person and Vice President of
Corporate Development for Central Resources, has reviewed and
approved the technical disclosure made in this press release.
Option Grant
The Company has granted an aggregate of 250,000 stock options to
employees and consultants of the Company under the Company's Stock
Option Plan, subject to regulatory approval. The options are
exercisable at a price of $0.15 per common share, are subject to
certain vesting provisions, are subject to a four month hold period
and expire on February 7, 2016.
About Central Resources
Central Resources Corp. is a junior mineral exploration company
created to leverage the extensive knowledge and experience of a
dedicated group of financial and resource industry professionals.
The Company has acquired options on several highly prospective
mineral properties in the Yukon and British Columbia and continues
to pursue additional opportunities to build shareholder value.
This news release contains forward-looking information, which
involves known and unknown risks, uncertainties and other factors
that may cause actual events to differ materially from current
expectation. Important factors - including the availability of
funds, the results of financing efforts, the results of exploration
activities -- that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's
documents filed from time to time on SEDAR (see www.sedar.com).
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The company disclaims any intention or obligation,
except to the extent required by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Central Resources Corp. Paul Reynolds President and
CEO 604-630-3730 Central Resources Corp. Peter Thiersch VP
Corporate Development 604-630-3730 info@centralres.ca
www.centralres.ca
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